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To All Persons Or Entities Who Purchased, Received, Or Otherwise Acquired Municipal Mortgage & Equity, LLC ("MuniMae") Common Stock Pursuant to MuniMae's Dividend Reinvestment Plan ("DRP") Between May 3, 2004 and January 29, 2008 (the "Class")The following statement is being issued by Brower Piven, A Professional Corporation and Berger & Montague, P.C. regarding the Municipal Mortgage and Equity, LLC Securities and Derivative Litigation, MDL 08-MD-1961.
UNITED STATES DISTRICT COURT IN RE MUNICIPAL MORTGAGE & EQUITY, LLC, SECURITIES AND DERIVATIVE LITIGATION, MDL 08-MD-1961, ALL CLASS ACTIONS SUMMARY NOTICE TO: ALL PERSONS OR ENTITIES WHO PURCHASED, RECEIVED, OR OTHERWISE ACQUIRED MUNICIPAL MORTGAGE & EQUITY, LLC ("MUNIMAE") COMMON STOCK PURSUANT TO MUNIMAE'S DIVIDEND REINVESTMENT PLAN ("DRP") BETWEEN MAY 3, 2004 and JANUARY 29, 2008 (the "Class"): YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of Maryland, that a hearing will be held on September 24, 2015, at 9:00 a.m., before the Honorable Marvin J. Garbis, at the United States District Court for the District of Maryland, 101 W. Lombard Street, Baltimore, MD 21201, Courtroom 5C, for the purpose of determining: (1) whether the proposed Class can be certified for settlement purposes only, pursuant to Rule 23 of the Federal Rules of Civil Procedure; (2) whether the proposed settlement of the Litigation for the sum of a maximum of $676,820.00 in cash available for distribution to the Class should be approved by the Court as fair, reasonable and adequate; (3) whether, after the hearing, this Litigation should be dismissed with prejudice pursuant to the terms and conditions set forth in the Stipulation of Settlement dated as of April 15, 2015; (4) whether the Plan of Allocation is fair, reasonable and adequate and should be approved; and (5) whether the application of Co-Lead Counsel for the payment of attorneys' fees and reimbursement of expenses incurrd in this Litigation not to exceed 30% of the Class recovery, plus an additional $150,000.00 to be paid by Defendants, should be approved. If you purchased, received or otherwise acquired MuniMae common stock pursuant to the DRP between May 3, 2004 and January 29, 2008, your rights may be affected by the Settlement of this Litigation. If you have not received a detailed Notice of Proposed Settlement of Class Action ("Notice") and a copy of the Proof of Claim ("Claim Form"), you should obtain copies by writing to In re MuniMae Securities Litigation, c/o GCG, P.O. Box (News - Alert) 9349, Dublin, OH 43017, or by visiting the website of the Claims Administrator at www.gardencitygroup.com/cases-info/munimae. The Notice contains details about this Litigation and Settlement, including what you must do to exclude yourself from the Settlement, object to the terms of the Settlement, or file a Claim Form. If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked no later than September 21, 2015, establishing that you are entitled to a recovery. If you desire to be excluded from the Class, you must submit a Request for Exclusion postmarked no later than August 10, 2015, in the manner and form explained in the detailed Notice referred to above. All Class Members who have not timely and validly requested exclusion from the Class will be bound by any judgment entered in the Litigation pursuant to the terms and conditions of the Stipulation. If you desire to object to the Settlement, your objection must be postmarked or filed with the Court no later than August 10, 2015, and served upon Co-Lead Counsel for Plaintiffs and the Class, Brower Piven, a Professional Corporation, or Berger & Montague, P.C., and Counsel for the Defendants at the following addresses no later than August 10, 2015: COURT:
Clerk of the Court FOR PLAINTIFFS:
David A.P. Brower
Barbara A. Podell Co-Lead Counsel for Plaintiffs FOR DEFENDANTS:
Mark Holland Counsel for Defendants PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Co-Lead Counsel for Plaintiffs and the Class at the address listed above. DATED: June 19, 2015
BY ORDER OF THE COURT
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